Search Site

DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

ADNEC to acquire ‘Royal Catering’

Royal Catering has more than 2.500 employees.

PIF sets up sarcc company

The new entity will address growing staff accommodation demand.

Boeing to cut 10% of workforce

The company has projected a large third-quarter loss.

AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.

Ramadan influences consumer habits, retail strategy

The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.

Women playing key role in educational innovations

Arab women have significant impact in shaping educational practices by embracing technology and student-centered learning, says Aziza Ellozy of The...

Rise in foreign sukuk offset by local currency decline

Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a...
  • Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a surge in foreign currency issuances, says a report
  • A new report by S&P Global Ratings indicates mixed activity levels, suggesting the need for harmonization of Sharia standards to attract non-core jurisdictions

Will extended oil production cuts stunt Saudi growth?

The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...
  • The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain a key source for its revenue, say experts
  • Amidst varying projections, the overall concern is clear: the extended cuts could strain the economy and may even lead to contraction if the trend continues into 2024

E-visas to drive tourism’s GDP share to 10%

Saudi Arabia is leveraging digital solutions to streamline travel, link tourists with local enterprises through apps, and enhance experiences via...
  • The move has simplified and streamlined the processes for obtaining a tourist visa, making it easier for visitors to travel to the Kingdom
  • Tourists can apply for the 90-day e-visa through an online portal which is an easy, accessible process with quick visa turnaround times

AI ‘disrupts economy’ but Middle East optimistic

The Boston Consulting Group survey found that 58 percent of Middle East employees, managers, and leaders believe that AI will...
  • An overwhelming 78 percent of respondents are confident that the rewards of GenAI outweigh the risks
  • 76 percent of all respondents believe that AI-specific regulations are necessary to manage the risks

High oil prices, reforms spur Saudi economic boom

The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates,...
  • The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates, indicating strong growth rate.
  • Consumer spending saw a remarkable 15% year-on-year rise in May, despite a monthly drop, while SAMA foreign reserve assets rose in May for the first time in six months

Office segment demand drives Saudi Arabia’s real estate boom

"The office sector shines brightest in the real estate market. Saudi Arabia's rapid economic growth drives the demand," Faisal Durrani,...
  • Prime rents in Riyadh have risen by 19 percent in the last year, while in Jeddah, they have risen by about 9 percent
  • The main demand centers for office space in the kingdom are Riyadh and Jeddah, and Dammam Metropolitan Area

Adaptability, innovation crucial for success in Dubai’s competitive F&B industry

Commitment, market awareness, and adaptability are keys to success in Dubai's highly competitive F&B industry, says Deepti Chawla of Infiniti...
  • Commitment, market awareness, and adaptability are keys to success in Dubai's highly competitive F&B industry, says Deepti Chawla, Founder of Infiniti Holdings & DCloud Kitchens
  • The F&B sector in the UAE is expected to touch US$8.9-billion mark by 2025, with Dubai, which hosts more than 20,000 eateries, leading from the front, adds Chawla

MENA region trails in global race for gender parity

The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region...
  • The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region will achieve full parity in 152 years, says a WEF report
  • Solutions like Gender Parity Accelerators and DEI Lighthouse Program are being implemented, but the path to gender parity remains a challenging one, it adds

Gaming navigates financial woes amid inflation rise

The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it...
  • The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it a global leader by the year 2030, says an expert
  • With the largest gaming community in the GCC, Saudi Arabia recognizes the potential of esports and gaming as drivers of economic growth and cultural development, he adds

HNWIs’ wealth in Middle East grows despite slowdown

Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong...
  • Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong earnings in the oil and gas sectors
  • Globally, HNWI wealth and population declined, with North America experiencing the sharpest decline. HNWIs have shifted focus to value and prioritized wealth preservation

Ramadan influences consumer habits, retail strategy

The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.

Company News

Latest News

Climate threats haunt GCC’s economy and finance

The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...

COP28 initiatives to narrow climate finance disparity

Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...

Clean energy sees marked investment rise since 2020

With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...

Most Read

Localization in focus as KSA raises military spending

Saudi Arabia's 2024 budget hikes military spending to $71 billion for industry localization and modernization, targeting 50% equipment spending localization...
  • Saudi Arabia's 2024 budget hikes military spending to $71 billion for industry localization and modernization, targeting 50% equipment spending localization by 2030.
  • The Kingdom has partnered with global defense companies, enhancing capabilities, aiming for SAMI to rank among top 25 global military industries by this decade's end.

GCC equity markets record first gain in four months

The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar...
  • The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar and closely followed by Saudi Arabia and Dubai.
  • This resurgence is a positive sign for the region's markets, which are showing robust growth and diversification efforts, particularly in sectors like Pharma & Biotech.

Is 2030 the finish line for the Gulf Railway Project?

The Gulf Railway aiming for completion by 2030, will link GCC nations with a comprehensive rail network, marking a new...
  • The Gulf Railway aiming for completion by 2030, is set to link GCC nations with a comprehensive rail network, marking a new era in regional transportation and economic integration.
  • Saudi Arabia's railway expansion, an integral part of the Gulf Railway Project, boosts GCC connectivity and trade, with parallel progress in the UAE, Qatar, Oman, and Kuwait.